Dubai has introduced new regulations targeting foreign banks operating in the emirate. H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, approved Executive Council Resolution No. (101) of 2024. This move aims to ensure that foreign banks comply with administrative guidelines while conducting business in Dubai.

The resolution outlines specific administrative violations and imposes penalties for non-compliance. It is part of efforts to strengthen governance and promote responsible practices in the banking sector. The measures also aim to enhance trust and accountability among financial institutions operating in the emirate.

The new rules will take effect upon publication in the Official Gazette, providing clear guidelines for foreign banks to adhere to while operating in Dubai.